The Shareholders Foundation issued a press release today announcing that an investigation on behalf of investors of WWE over potential securities law violations and on certain directors and officers in connection of financial statements has been launched.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of WWE concerning whether a series of statements by World Wrestling Entertainment regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

WWE quickly issued a short statement regarding the press release saying, “The claim that Shareholders Foundation is allegedly investigating has absolutely no substance or merit.”

WWE will be releasing the Q1 2014 results tomorrow.